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Country story
Malaysia
Malaysia has developed a dual financial system with dedicated Islamic legislation, institutions and market infrastructure.
Bank Negara Malaysia’s Sharīʿah Advisory Council is the authoritative national reference for Islamic-finance matters under central-bank supervision.
Bank Negara Malaysia’s Sharīʿah Advisory Council is the authoritative national reference for Islamic-finance matters under central-bank supervision.
Malaysia is the project’s illustrative case because legal, market and governance differentiation are all highly visible.
Institutional success and market scale still leave open whether ownership, risk and productive allocation have changed in substance.
Malaysia’s experience cannot establish the cross-country proposition on its own, and aggregate assets do not reveal each financing destination.
Descriptive comparison
Manufacturing value added
Latest available year: 2024.
Malaysia
View chart data
| Series | Year | Manufacturing value added (% of GDP) | Source note |
|---|---|---|---|
| Malaysia · 2010 | 2,010 | 23.43 | Authorised country-level annual series |
| Malaysia · 2011 | 2,011 | 23.32 | Authorised country-level annual series |
| Malaysia · 2012 | 2,012 | 23.14 | Authorised country-level annual series |
| Malaysia · 2013 | 2,013 | 22.84 | Authorised country-level annual series |
| Malaysia · 2014 | 2,014 | 22.87 | Authorised country-level annual series |
| Malaysia · 2015 | 2,015 | 22.29 | Authorised country-level annual series |
| Malaysia · 2016 | 2,016 | 21.8 | Authorised country-level annual series |
| Malaysia · 2017 | 2,017 | 21.85 | Authorised country-level annual series |
| Malaysia · 2018 | 2,018 | 21.53 | Authorised country-level annual series |
| Malaysia · 2019 | 2,019 | 21.41 | Authorised country-level annual series |
| Malaysia · 2020 | 2,020 | 22.23 | Authorised country-level annual series |
| Malaysia · 2021 | 2,021 | 23.36 | Authorised country-level annual series |
| Malaysia · 2022 | 2,022 | 23.34 | Authorised country-level annual series |
| Malaysia · 2023 | 2,023 | 23.02 | Authorised country-level annual series |
| Malaysia · 2024 | 2,024 | 22.5 | Authorised country-level annual series |
What this visual showsA verified country trajectory in the measure’s stated unit.
What it does not establishA causal effect of Islamic finance on the observed outcome.
Descriptive comparison
Financing directed towards FIRE-related activities
Country-year medians by bank type. Each point reports its covered-bank count.
FIRE ordinarily refers to finance, insurance and real estate. Here the measure is broader: it captures bank financing reported for financial institutions, insurance, real estate and consumer-durable activities. It is used as a proxy for firm-level financialisation. The measure does not imply that every underlying financing claim is speculative, harmful or unproductive. It is a sectoral-allocation proxy and a level measure that is sensitive to bank size.
ConventionalIslamic
View chart data
| Series | Year | Logged FIRE-related financing volume (natural log) (natural-log units) | Source note |
|---|---|---|---|
| Conventional · 2000 | 2,000 | 27.07 | 1 covered bank |
| Islamic · 2000 | 2,000 | 18.33 | 3 covered banks |
| Conventional · 2001 | 2,001 | 27.15 | 1 covered bank |
| Islamic · 2001 | 2,001 | 18.84 | 3 covered banks |
| Conventional · 2002 | 2,002 | 27.11 | 1 covered bank |
| Islamic · 2002 | 2,002 | 18.72 | 3 covered banks |
| Conventional · 2003 | 2,003 | 27.02 | 1 covered bank |
| Islamic · 2003 | 2,003 | 18.12 | 2 covered banks |
| Conventional · 2004 | 2,004 | 26.96 | 1 covered bank |
| Islamic · 2004 | 2,004 | 18.73 | 4 covered banks |
| Conventional · 2005 | 2,005 | 26.8 | 3 covered banks |
| Islamic · 2005 | 2,005 | 18.96 | 6 covered banks |
| Conventional · 2006 | 2,006 | 27.4 | 4 covered banks |
| Islamic · 2006 | 2,006 | 19.72 | 9 covered banks |
| Conventional · 2007 | 2,007 | 27.22 | 5 covered banks |
| Islamic · 2007 | 2,007 | 19.67 | 9 covered banks |
| Conventional · 2008 | 2,008 | 26.63 | 6 covered banks |
| Islamic · 2008 | 2,008 | 20.09 | 13 covered banks |
| Conventional · 2009 | 2,009 | 25.29 | 8 covered banks |
| Islamic · 2009 | 2,009 | 19.91 | 15 covered banks |
| Conventional · 2010 | 2,010 | 26.09 | 9 covered banks |
| Islamic · 2010 | 2,010 | 20.35 | 15 covered banks |
| Conventional · 2011 | 2,011 | 25.12 | 9 covered banks |
| Islamic · 2011 | 2,011 | 21 | 16 covered banks |
| Conventional · 2012 | 2,012 | 26.16 | 11 covered banks |
| Islamic · 2012 | 2,012 | 22.22 | 14 covered banks |
| Conventional · 2013 | 2,013 | 25.64 | 12 covered banks |
| Islamic · 2013 | 2,013 | 21.73 | 16 covered banks |
| Conventional · 2014 | 2,014 | 27.04 | 14 covered banks |
| Islamic · 2014 | 2,014 | 21.86 | 16 covered banks |
| Conventional · 2015 | 2,015 | 26.98 | 14 covered banks |
| Islamic · 2015 | 2,015 | 21.86 | 15 covered banks |
| Conventional · 2016 | 2,016 | 26.86 | 12 covered banks |
| Islamic · 2016 | 2,016 | 21.95 | 15 covered banks |
| Conventional · 2017 | 2,017 | 27.36 | 14 covered banks |
| Islamic · 2017 | 2,017 | 22.19 | 15 covered banks |
| Conventional · 2018 | 2,018 | 26.98 | 15 covered banks |
| Islamic · 2018 | 2,018 | 22.24 | 15 covered banks |
| Conventional · 2019 | 2,019 | 27.02 | 15 covered banks |
| Islamic · 2019 | 2,019 | 22.3 | 16 covered banks |
| Conventional · 2020 | 2,020 | 26.94 | 15 covered banks |
| Islamic · 2020 | 2,020 | 22.4 | 16 covered banks |
| Conventional · 2021 | 2,021 | 26.87 | 15 covered banks |
| Islamic · 2021 | 2,021 | 22.48 | 16 covered banks |
| Conventional · 2022 | 2,022 | 26.18 | 14 covered banks |
| Islamic · 2022 | 2,022 | 22.56 | 16 covered banks |
What this visual showsDescriptive median logged volumes among covered banks.
What it does not establishA bank-size-adjusted or causal difference between bank types.
Institutional sources